Canagold Resources Ltd. reports that its 100%-owned New Polaris gold‑antimony project has been added to the Canadian government’s advanced gold‑antimony projects map, highlighting its profile within Canada’s critical minerals landscape.
The company plans a fully funded 7,000‑metre diamond drilling program beginning in June 2026. Drilling will target expansion of high‑grade gold‑antimony mineralization within and near the current mine plan defined in the July 2025 feasibility study, aiming to further define and potentially expand the resource base in areas that could directly benefit early mine production and overall project economics.
Canagold believes that integrating antimony production could enhance the strategic value of New Polaris as demand grows for secure, diversified supplies of critical minerals, and it plans to provide further updates as the 2026 exploration and development program advances.
Canagold Resources Ltd. outlines a fully funded 2026 work program at its 100%-owned New Polaris gold-antimony project to advance an antimony production strategy. The plan includes about 7,000 metres of diamond drilling from June to July 2026 to expand high-grade gold-antimony resources within and near the current mine plan from the July 2025 feasibility study.
Drill core will support new metallurgical and engineering studies to optimize flowsheets for producing saleable antimony metal. Because most mining and processing costs are already captured in the gold-focused plan, adding antimony is expected to provide meaningful incremental revenue with limited extra capital or operating costs, potentially improving project cash flow, margins, and after-tax returns.
Canagold Resources Ltd. closed a private placement financing raising $9,228,456.50 through 9,396,570 common shares at $0.45 and 10,000,000 flow-through shares at $0.50 each. The financing is intended to fund working capital, administrative costs, project development and qualifying exploration spending at the New Polaris project.
Flow-through proceeds will be used for Canadian exploration expenses that qualify as flow-through mining expenditures under federal and British Columbia tax law. Sun Valley Investments AG bought 5,000,000 flow-through shares and 4,698,285 common shares, increasing its beneficial ownership to 103,226,102 common shares, or 48.25% of the company. The Toronto Stock Exchange granted conditional approval, and all new shares are subject to a hold period expiring on June 14, 2026.